Sep, 30, 2022 — REDSTONE FEDERAL CREDIT UNION is a federal credit union headquartered in HUNTSVILLE, AL with 38 branch locations and about $7.77 billion in total assets. Opened 72 years ago in 1951, REDSTONE FEDERAL CREDIT UNION has about 725,558 members and employs 1,252 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | REDSTONE FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 220 Wynn Dr HUNTSVILLE, AL 35893 |
| Phone: | (256) 837-6110 |
| Fax: | (256) 722-8399 |
| Website: | https://www.redfcu.org |
| Branches: | 38 branch locations |
| Members: | 725,558 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 7544 |
|---|---|
| Membership Type: | Multiple common bond - other |
| Corporate Credit Union: | No |
| Year Opened: | 1951 |
| Last Audited: | Jun 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $7,769,381,572 |
| CEO/Manager: | Joseph H Newberry |
| Chairperson: | Dave Hargrove |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 658,224,660 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 2,509,687 |
| Real Estate Loans | 1,500,566,613 |
| Unsecured Loans | 521,022,125 |
| Other Loans | 1,385,610,323 |
| TOTAL LOANS | 3,407,716,240 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -33,351,230 |
| Land And Building | 126,647,052 |
| Other Fixed Assets | 26,520,912 |
| NCUSIF Deposit | 62,364,004 |
| All Other Assets | 1,295,461 |
| TOTAL ASSETS | 7,769,381,572 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 20 |
| Notes & Interest Payable | 259,806,317 |
| Accounts Payable & Other Liabilities | 74,989,972 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,388,312,315 |
| Regular shares | 3,147,127,018 |
| All Other Shares & Deposits | 2,475,962,712 |
| TOTAL SHARES & DEPOSITS | 7,011,402,045 |
| TOTAL LIABILITIES | 7,346,198,354 |
| Regular Reserve | 0 |
| Other Reserves | -378,311,193 |
| Undivided Earnings | 801,494,411 |
| TOTAL EQUITY | 423,183,218 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 7,769,381,572 |
| INCOME & EXPENSE | |
| Loan Income | 112,880,838 |
| Investment Income | 50,666,754 |
| Other Income | 23,559,742 |
| Total Employee Compensation & Benefits | 83,150,837 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 90,414,210 |
| Non-operating Income & (Expense) | -283,002 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 16,964,414 |
| Cost of Funds | 12,436,006 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 47,084,705 |
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